Property Number Two. Kinda..

[Alex Korch]

Investment Info:

Large multi-family (5+ units) buy & hold investment.

Purchase price: $1,200,000
Cash invested: $320,000

large high end 8 unit. Rents adv $1400/mo. Refirbished warehouse, all hardwoord exposed brick. Has 1 commercial unit. We have partnered with my in-laws company to get this unit.

What made you interested in investing in this type of deal?

ease of management. Our partners were looking for a high end property. The location. Down town Allentown is on a big upswing. These units are located across the street from a very active hockey arena, a few breweries, nice restaurants, and the new building of one of the largest employers in the city. The proximity to the employer was key. This company has a tendency to hire young professionals and pays quite well.

How did you find this deal and how did you negotiate it?

Our commercial realtor. There were 5 other bids we paid ask. However, we were not the highest. We were able to close the quickest, only ones willing to put 10% deposit with money going hard after DD.

How did you finance this deal?

We use Lehigh Financial Group.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Lisa Lyon of ALT, Lehigh Financial Group, CDA inspection, Experience Land Services. I would recommend all of them. During my year or so of research before going into this there was a reoccurring theme of building the right team. I went to countless networking events doing informal interviews. and came up with these 4.